Feb. 19, 2017
Held

Referendum

Results

Provisions

"Do you agree that, for those holding a popularly elected office or for public servants, there should be a prohibition on holding assets or capital, of any nature, in tax havens?"

Yes4,993,351

55.11

No4,066,595

44.89

More Info:

Republic of Ecuador: Referendum, 19 February 2017

At stake in this election:

A proposal introduced by President CORREA to bar government and elected officials from utilizing tax havens.

Description of government structure:

Chief of State: President Rafael CORREA Delgado

Head of Government: President Rafael CORREA Delgado

Assembly: Ecuador has a unicameral National Assembly (Asamblea Nacional) with 137 seats.

Electoral requirements:

Referendums may be introduced by 1) citizens by collecting a specified number of signatures or 2) the President. Constitutional amendment proposals require signatures representing 8% of those registered to vote while referendums introduced by citizens on other matters require signatures representing 5% of the electorate. The President may advise the National Elections Commission (CNE) to convene a referendum on any matter.

Once the allotted signatures are reached or the President requests a referendum, the language of the proposed question must found to be constitutional by the Constitutional Court. It is then sent to the CNE after which the CNE has 15 days to call for a referendum to take place within the next 60 days.

President CORREA has proposed to bar public officials or candidates for elected positions from having companies or accounts in tax havens. If passed, current public officials or candidates must move their assets out of tax havens or they will be removed from office or their posts. The National Assembly will have one year to reform the law to reflect the referendum. This proposal is part of a larger effort in Ecuador to eliminate the use of tax havens.

Main provisions in the referendum:

"Do you agree that, for those holding a popularly elected office or for public servants, there should be a prohibition on holding assets or capital, of any nature, in tax havens?"